DUESSELDORF (dpa-AFX) - Ceconomy AG (MTAGF.PK), a German retailer of
consumer electronics, on Wednesday registered a turnaround to net profit for the
second-quarter, helped by increased sales, driven mainly by strong 5.1 percent
LFL growth in bricks and mortar and online.

For the second-quarter, the company recorded a net income of 85 million euros or
0.17 euro per share, compared with a net loss of 47 million euros or 0.10 euro
per share, posted for the same period last year.

Excluding items, earnings surged to 94 million euros or 0.19 euro per share from
previous year's 11 million euros or 0.02 euro per share.

EBIT stood at 44 million euros as against last year's loss of 106 million euros.

Adjusted EBIT was at 5 million euros, versus a loss of 21 million euros in 2023.

Adjusted EBITDA improved to 168 million euros from 135 million euros last year.

Like-for-like sales development slipped to 5.1 percent from 6.1 percent a year
ago.

Sales moved up to 5.334 billion euros from 5.302 billion euros last year.

Looking ahead, for the full year, Ceconomy expects adjusted EBIT of 290 million
euros to 310 million euros, with a slight increase in currency- and
portfolio-adjusted total sales.



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